Kiwi's wings clipped, could break back below 60 US cents

(Image: Gettty)

Thu, 10 Oct 2024

The New Zealand dollar could head below 60 US cents, weighed by a stronger greenback and a hefty domestic official cash rate cut on Wednesday.It was trading at 60.58 US cents early in Wellington, having dipped as low as 60.55 overnight. It is the lowest it has been in seven weeks. The kiwi has “extended lower in offshore trade, amid a broadly stronger US dollar backdrop”, BNZ senior interest rate strategist Stuart Ritson said. US dollar indexRitson said the US dollar index has retraced more than 50% of its August–Sep...

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